Most business owners don’t know what to ask when hiring an accountant. And too many firms make vague promises, or set no expectations at all. So here are some clear, direct answers from Bearden Stroup CPAs to 4 key questions you should ask before you choose an accountant.
What does your pricing include (and what doesn’t it)?
Software: Our quotes will include subscriptions to the software that you need, so you don’t have to pay those costs. If you want to keep paying your existing QuickBooks subscription directly, we are happy to work with that. If you are using our payroll services, we will quote a tech fee that allows us to cover your direct deposit fees.
Calls, Emails, and Meetings: You should be able to ask your accountant questions without it costing you extra. All call and emails about the normal operations of your business are included in our monthly fees. We want to build a relationship with you, and we need to keep the lines of communication open. We understand that when communication only happens once a year, planning opportunities get missed. On the other hand, some issues merit a consultation so that we can help you fully understand the options. That’s why we include 1 meeting each year. You get to decide the topic and when you want to use it.
Monthly Financial Reports: We deliver monthly financial reports that highlight your financial performance. We also show you a full rolling 12 months so you can always see a full annual cycle every month, not just once per year. You also get a monthly financial health summary.
Payroll: We offer payroll, bookkeeping, and tax all under one roof. That means we handle the communication internally and coordinate everything for you. Our system makes it easy to set up your employees and our team is there to help if you have any questions. For a small fee we can facilitate all your retirement plan contributions. We handle direct deposit, W-2’s, and payroll tax deposits so you don’t have to worry about it.
Saving you time and headache: Do you need to send out some 1099’s to vendors? Just get us the info and we ‘ll take care of it. When your insurance company requests info for their annual audit, just forward the request to our payroll team and we will get everything to the auditor for you. If you want us to renew your local business licenses, we can include that for only $10/month. We will update your equipment list and file your Business Personal Property tax return each year. We want to make it easy for you to stay out of trouble and focus on your core business.
Am I bigger or smaller than your typical client?
Many of our clients fall between $500K and $3M in annual revenue. That’s the range where our done-for-you accounting really pays off—freeing up the owner’s time and keeping the financial reporting on track. This revenue range is just a rule of thumb though. For example, professional services firms who tend to have low overhead, often work with us primarily because A. they need the tax planning and B. the owner’s time is so valuable. We find that if you have less than $250K of revenue, and you aren’t on track to surpass that in the next year, we probably aren’t a good fit for your needs.
If you’re past $5M, that’s where our tax strategy and advisory work really shine. Bigger businesses need more than bookkeeping. They need a sharp partner who can help them keep more of what they earn and make smart moves as they grow.
What promises do you make about timely communication and reporting?
Response Time: Our client care team (front desk) consistently answers calls during business hours, and they will work to get you expedited help if you have a time sensitive situation. Our CPAs and tax accountants may be in meetings or away from their desks, but we try to return calls at our next available opportunity, so you typically hear back the same day. We strive to return all calls in less than 24 hours. We typically reply to emails within 24 hours, and we strive to respond to all email requests within 48 hours. At Bearden Stroup you have a team of professionals who are ready and empowered to help you, not just one overworked business owner who may be too snowed-under to get back with you.
Monthly Financial Statements: Our standard is to deliver financial statements within 30 days of the month-end, but we do offer an upgrade to faster delivery for those who need it. We typically use online access to ensure that we get your information quickly (without bugging you). If we have questions about an issue that would cause a major change in your financial statements, then we will wait to issue them until you provide additional information so that we can give you accurate reports.
When will you prepare my income tax returns: We will prepare your business and personal income tax return by April 15th each year if you provide the information to us on time. We need business tax year end info by January 31st, and we need your personal tax info by the second Thursday of March. Every year we will send you several reminders so you have plenty of heads up. If you prefer to file an extension, we need your tax info by July 31st.
Will you give me an annual tax projection?
Tax Projection: Yes, we have a rhythm of doing tax projections once we complete the books for Q3. We will send you a few simple questions that you can answer on your phone or computer each fall. We will project out the net profit of your business as well as your payroll and tax withholding.
Tax Planning: Once we have the projection, we look for opportunities to save you tax using our 25-strategy standard tax planning system. Your client manager will call to discuss any actions you need to take and we will email you to tell you where you stand, so you always have confidence that you are on track or you know how to prepare for your next tax payments. You won’t have to remind us to do a projection, you won’t have to ask us to look for tax planning ideas, we do it every year.
Conclusion
A good accountant should make your life easier, not add to your workload. If these answers sound like the kind of support you’ve been looking for, let’s have a conversation. We’re here to take the guesswork off your plate—so you can get back to running your business